cumulus media radio bankruptcy

Consolidated radio companies on the cusp of bankruptcy

Eric Garland Finance Trends, Media trends Leave a Comment

A reader recently tipped me off to trends in the finance of terrestrial radio as an analogue to what I’ve been tracking in musical instrument retail through the Guitar Center saga. Through consolidation and Byzantine financial structures, companies such as IHeartMedia and Cumulus have been dragging out the inevitable failure of a certain type of Wall Street business model. The …

The legal usury of payday loans

Eric Garland Finance Trends 1 Comment

My colleague Dr. Sarah Kendzior has a new piece up for The Guardian that details how rapacious payday lenders extract 300-1000% interest from workers in already precarious positions of society. Try to wrap your head around the follow story of one attorney trying to extricate his clients from the tentacles of these organizations. “Here’s a client of ours,” he says, …

equity versus debt ownership financial trend

The rich get the stocks, the poor get the debt

Eric Garland Finance Trends 5 Comments

I found this snapshot of the U.S. financial system to be particularly compelling. This chart shows which percentile of society (i.e. the richest 1%, the next 10%, the bottom 90%) has ownership of which kinds of financial instruments. The stock market is enormously weighted to just 10% of Americans. The top 1% of households own 63% of equities, and together …